Currency

News about Currency, including commentary and archival articles published in The New York Times.

Chronology of Coverage

Mar. 30, 2015

Editorial examines implications of dollar's steady rise against foreign currencies, particularly euro and Japanese yen; contends while trend has number of advantages for exporting nations and global economy, it is unlikely to be sufficient to stimulate growth in struggling countries like Greece; says trend shows how world continues to rely too heavily on United States, which is itself still in state of recovery. MORE

Mar. 21, 2015

Gail Collins Op-Ed column applauds movement begun on website Women on 20s to replace Andrew Jackson's image on 20 dollar bill with that of influential woman; holds that debate over who should replace Jackson has its own value, as it highlights many deserving but overlooked women in American history. MORE

Mar. 11, 2015

Emerging market economies, once seen as a portfolio staple, are losing luster for investors amid political instability, faltering economies and the steady rise of the American dollar; Turkish lira and Brazilian real have fallen to multiyear lows, and Russian ruble remains deeply unstable following plunge. MORE

Mar. 7, 2015

Op-Ed article by blogger Francisco Toro and doctoral candidate Dorothy Kronick asserts Venezuelan system in which government oil dollars are sold at three different prices has led to byzantine and distorted economic system that has fueled threat of hyperinflation; contends country can reign in both its budget deficit and inflation by reforming system; notes situation is fueling unrest and questions why government does not act. MORE

Mar. 1, 2015

Adam Davidson On Money column observes that in wake of financial crisis investors across globe clung to surest thing, namely the dollar, rather than accepting lack of certainty inherent in finance; suggests Federal Reserve chairwoman Janet Yellen could prod investors to take more risks by making investors more afraid of what she can do, which would in turn prompt realization that world of uncertainty can be richer one. MORE

Feb. 21, 2015

Editorial notes several large banks are expected to settle charges of price rigging in foreign currency market but rejects notion that settlements will result in true accountability or justice; predicts deals will be structured in ways that leave banks undamaged and that may hurt shareholders and employees. MORE

Feb. 16, 2015

Growing bipartisan majority in Congress is demanding that Pres Obama's trade agenda aggressively attack practice whereby countries deliberately hold down value of their currencies against the dollar in order to keep exports cheap and make American goods more expensive; push puts Obama in bind, since such prohibitions could kill major trade deals like Trans-Pacific Partnership. MORE

Feb. 11, 2015

Feb. 9, 2015

The Justice Department is demanding that some of Wall Street’s biggest banks plead guilty to criminal charges that they manipulated the prices of foreign currencies. MORE

Jan. 29, 2015

Monetary Authority of Singapore says it will slow appreciation of Singapore dollar, citing global and domestic economic turbulence; joins series of central banks making moves to help their countries' growth. MORE

Jan. 20, 2015

Denmark lowers interest again to hold down value of krone; move comes ahead of European Central Bank meeting that could further weaken value of euro. MORE

Jan. 10, 2015

Op-Ed article by economist Jacob Bernstein calls for Congress to use Trans-Pacific Partnership, trade deal between United States and 11 other countries, to restrict currency manipulation; holds that currency is being manipulated by some other countries in manner that results in American trade deficit and loss of millions of jobs; says that diplomacy has not worked to bring about currency management, and that direct approach, like writing rules in agreement, is needed. MORE

Nov. 30, 2014

Decline in value of Canadian dollar against United States dollar could impact size of any increase in NHL’s 2015-2016 salary cap; Canadian teams make up 23 percent of the NHL and contribute estimated 35 percent of league revenue, which is tied to salary cap. MORE

Nov. 15, 2014

Islamic State has created its own currency, part of a plan to restore caliphate era that dominated Middle East more than 1,300 years ago; says it will begin minting gold, silver and copper coins that will be legal tender of lands controlled by group know as ISIS or ISIL. MORE

Nov. 12, 2014

The fines come as regulators are increasingly targeting a business culture in the financial industry that they say encourages improper conduct by its employees. MORE

Nov. 10, 2014

Banks face tougher settlement language than expected and larger fines in a currency-manipulation case as multiple United States and British regulators act in concert. MORE

Nov. 3, 2014

The bank added $1.3 billion to its estimate of the amount of legal costs it might face for current investigations. MORE

Oct. 30, 2014

Citigroup says it has to cut its third-quarter earnings because of a $600 million increase in legal expenses. MORE

Oct. 6, 2014

Around a dozen major banks are being investigated after being accused of colluding to set currency levels, and several are expected to plead guilty. MORE

Oct. 3, 2014

Obama administration and the Federal Reserve will continue to turn a blind eye as Europe, Japan and even China manipulate dollar value of their currencies in order to bolster exports; trend is likely to intensify as Fed retreats from its stimulus program and European Central Bank and Bank of Japan expand their efforts; strategy reflects judgement that United States will benefit from stronger global growth. MORE

Jul. 21, 2014

Britain’s Serious Fraud Office is joining various regulators who are investigating allegations of abuse in the multitrillion-dollar foreign exchange market. MORE

Jul. 9, 2014

Economic chaos in Venezuela is taking its toll on multinational companies in country, as currency restrictions and major devaluation cause profits to evaporate; Pres Nicolas Maduro has been unable to come up with consistent set of policies to curb inflation and other ills, although there are signs reforms may be on the horizon. MORE

Jun. 17, 2014

Greenpeace says it lost 3.8 million euros, or about $5.2 million, on ill-timed bet in the currency market by a well-intentioned, if reckless, employee in its finance department. MORE

Apr. 11, 2014

China's exports unexpectedly fell in March and its imports dropped even more sharply; significance of data for country's economy is clouded by uncertainty over extent to which exporters and importers were timing shipments to profit from currency market shifts. MORE

Apr. 11, 2014

Surge in Turkish exports amid country's declining currency could help blunt some of the shocks rattling Turkey's economy and threatening its role as force for stability in the region; growing exports could also lead to employment gains that could offset effects of higher prices. MORE

Apr. 3, 2014

Kit Eaton App Smart column notes several apps that assist in converting units of currency, measurement and more. MORE

Mar. 25, 2014

Venezuelan government takes a step toward easing strict currency controls and opens what it says will be a free market for the sale of dollars to Venezuelans; step is intended to confront the economic problems that have helped fuel weeks of protest. MORE

Feb. 12, 2014

Kazakhstan's central bank says that it will devalue the country's currency, the tenge, by a surprisingly large 20 percent against the dollar in what is seen as latest example of emerging economies under pressure; move surprises financial markets, which were taken aback by severity of devaluation. MORE

Feb. 11, 2014

Frenzy of currency traders at Istanbul’s Grand Bazaar is a demonstration of how the value of Turkey’s lira is being determined largely by events beyond country’s control; Turkish lira has been alarmingly weak. MORE

Feb. 8, 2014

Editorial maintains officials in Brazil, Argentina, Turkey and other nations have only themselves to blame for economic downturns; contends rapid decline in their currencies is due to longstanding domestic problems, rather than the Federal Reserve's decision to scale back bond-buying program. MORE

Feb. 1, 2014

Argentine Pres Cristina Fernandez de Kirchner has yet to address currency crisis that has set off global concerns about the fragility of developing economies; Kirchner's absence during steepest currency plunge since country's economic collapse a decade ago has weakened her once-strong public image and fueled debate over whether a power vacuum is emerging. MORE

Jan. 25, 2014

Decline in Argentina’s currency is the steepest since country’s economic collapse in 2002, and it is raising fears of a global slump in developing countries. MORE

Jan. 24, 2014

Argentina’s currency, the peso, plunges more than 8 percent against dollar after country’s central bank tries to stem decline in international reserves; decline raises concerns that inflation could accelerate even further. MORE

Dec. 23, 2013

Paul Krugman Op-Ed column notes parallels between the gold standard for currency and Bitcoin; contends allure of both is based on an unreasonable fear of inflation and a distrust of government. MORE

Dec. 19, 2013

Britain announces that the British pound, a reserve currency that has been printed on cotton-based paper for 300 years, will be made from plastic; Britain is the latest nation to replace paper bills with plastic ones, following popular trend that has swept through about two dozen other countries, including Canada and Australia. MORE

Nov. 22, 2013

Editorial notes world's biggest banks are being investigated by international officials for alleged manipulation of the $5.3-trillion-a-day foreign exchange market; contends real problem is that foreign exchange is one of the most opaque and least policed of all financial markets; calls on policy makers, regulators and prosecutors to do what they must to make the markets more transparent. MORE

Nov. 18, 2013

Federal officials told a Senate hearing that virtual currencies like bitcoin offered real benefits for the financial system. MORE

Nov. 14, 2013

Eric H. Holder Jr., the U.S. attorney general, says groups of traders from several major banks may have influenced currency benchmarks to benefit their employers. MORE

Nov. 14, 2013

New York’s financial services superintendent will conduct a hearing on the feasibility of methods making the virtual currency market more like that for more traditional money. MORE

Oct. 7, 2013

Federal Reserve will begin circulating new $100 bill with some modern and colorful anti-counterfeiting features, after overcoming problems that postponed its debut for more than two and a half years. MORE

Sep. 25, 2013

SecondMarket is expected to begin raising money for an investment fund that will hold only bitcoins, giving wealthy investors exposure to the virtual currency. MORE

Aug. 30, 2013

Paul Krugman Op-Ed column contends falling value of Indonesian rupiah is not an indication that Asia is entering a financial crisis; holds current events do offer opportunity to observe that in the 16 years since the last Asian financial crisis, few lessons have been learned. MORE

Aug. 24, 2013

Aug. 23, 2013

South and Southeast Asia are being buffeted by broad shifts in international economics, but with Japan and China to the north largely unaffected, fears of a more widespread crisis are being played down; nations most affected have been India and Indonesia, where many domestic and foreign investors are now rushing for the exits, exchanging local currencies for dollars. MORE

Aug. 13, 2013

The Senate’s committee on homeland security and New York State’s top financial regulator are investigating gaps in the oversight of upstart virtual currencies like bitcoin. MORE

Aug. 5, 2013

London Journal; push by British feminists to get Jane Austen on Great Britain's 10-pound note has been met with countercampaign of online harassment, including crude threats of rape and death, against several high-profile women in the country. MORE

Aug. 5, 2013

Syrian Pres Bashar al-Assad bans the use of foreign currencies in business transactions, part of the government's effort to prop up the Syrian pound, which has plummeted to 200 pounds to the dollar from 47 to the dollar in March 2011. MORE

Aug. 1, 2013

Tool Kit column examines digital currency bitcoins; says they trade like a commodity, and with a current market capitalization of $1 billion, they are beginning to be more widely accepted by businesses as money; gives tips on making transactions. MORE

Jul. 28, 2013

Editorial contends the United States should follow Great Britain's lead and welcome notable women on its currency, in light of the decision to put Jane Austen on the ten pound note. MORE

Jul. 1, 2013

What is a bitcoin? As a virtual currency, it is hardly an easy or intuitive concept. In plainer terms, a bitcoin is digital money that can be bought and sold online in exchange for traditional currencies. MORE

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